Bharat Coking Coal Ltd. Wins Major Relief on Contract Payments; Revenue Appeals Dismissed

Bharat Coking Coal Ltd. Vs ACIT (ITAT Ranchi) Bharat Coking Coal Ltd. Wins Major Relief on Contract Payments; Revenue Appeals Dismissed The Income Tax Appellate Tribunal (ITAT), Ranchi Bench, decided cross-appeals and cross-objections involving M/s Bharat Coking Coal Ltd. (BCCL) and the Revenue for AYs 2009-10, 2011-12 and 2012-13. The Tribunal largely ruled in favour of the assessee and dismissed the Revenue’s appeals. Key findings include: Unabsorbed Depreciation: Following its own earlier decision and the Gujarat High Court ruling in General Motors India Pvt. Ltd., the Tribunal uphel...